Indonesia's retail sales accelerate at fastest pace since June

Source: Xinhua | 2019-12-11

Indonesia's retail sales in October expanded at the fastest pace since June, primarily contributed by sales of foods, tobacco, automotive spare parts and accessories, a survey carried out by the central bank (Bank Indonesia) showed here on Tuesday.

The retail sales edged up 3.6 percent in October on a 12-month basis, compared with 0.7 percent in the presiding month.

For November, retail sales were forecast to keep growing but slightly down to 3.4 percent year-on-year as the growth was supported by the sales of foods, beverage, tobacco, household equipment as well as automotive spare parts and accessories.

In the next three months till January 2020, price pressure was expected to ease as indicated by drifting down of index of price expectation to 149.2 from 153.1 in the presiding month.

Data from the Central Bureau of Statistics showed that the core inflation, exempting government controlled-prices and volatile food prices, kept on buoyancy in October, 3.2 percent on yearly basis, from 3.3 percent in September.

Consumption represents over half of the gross domestic product growth in Indonesia, a country home to over 250 million population.